German industrial output plunges

BBC, Feb 5: German industrial output has seen a record fall after a sharp contraction in manufacturing activity.

Output plunged by 4.6% in December from the previous month, figures from the Economy Ministry showed.

It was the steepest decline since May 1989 and was much worse than the 2.5% fall expected by analysts.

Industrial output was likely to remain weak for the next few months, given the slump in demand for manufactured goods, the Economy Ministry said.

‘Horrific’ data

Year-on-year output dropped by 12% in Europe’s largest economy, which confirmed it was in recession in November.

Jennifer McKeown, European economist at Capital Economics, described the data as “horrific” and said the decline had happened faster than expected.

Manufacturing output was down by 5.3%, with Germany’s motor industry affected by a slump in global demand for cars.

Energy output was also down by 1%.

However, there was an increase in construction output, which rose by 1.4%.

Ecopetrol aplaza la fecha de revelación de resultados del cuarto trimestre de 2008

La petrolera anunció este lunes que la revelación de dicha información fue aplazada para el día martes, febrero 17 de 2009, después del cierre de los mercados.

El aplazamiento se debe a un retraso en la reconciliación de algunos conceptos no operativos, los cuales no deben tener impacto significativo sobre los resultados financieros de la compañía.

Ecopetrol ofrecerá conferencias telefónicas el día miércoles 18 de febrero; primero la rueda de prensa en español (8 a.m.) y después vendrá la entrega de la información en inglés (10 a.m.). Las llamadas de conferencia pueden ser escuchadas en vivo a través de un webcast el cual estará disponible en el sitio web de Ecopetrol.

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